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Li & Fung Says It’s Cutting Staff, But Not 70 Percent

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After news reports that Li & Fung was shedding up to 70 percent of its procurement staff, the sourcing and logistics company says that isn’t true. “We don’t respond to market rumors, however the 70% number is inaccurate,” a representative in Li & Fung’s communications department told Sourcing Journal late Friday. What is true, is…

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